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Earnings Per Share
 6 Months Ended
Jul. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
5.
Earnings Per Share
 
Basic earnings per share are based on the weighted average number of common shares outstanding without consideration of common stock equivalents. Diluted earnings per share are based on the weighted average number of common shares and common stock equivalents. The diluted earnings per share calculation takes into account the shares that may be issued upon exercise of stock options, reduced by shares that may be repurchased with the funds received from the exercise, based on the average price during the period.
 
The following table sets forth the computation of basic and diluted earnings per share for “income from continuing operations” at July 31, 2015 and 2014, as follows:
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
July 31,
(in $000’s)
 
July 31,
(in $000s)
 
 
 
2015
 
2014
 
2015
 
2014
 
Numerator
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income from continuing operations
 
$
3,588
 
$
562
 
$
5,748
 
$
916
 
Net loss from discontinued operations
 
 
(1,554)
 
 
(948)
 
 
(2,485)
 
 
(1,302)
 
Net income (loss)
 
$
2,034
 
$
(386)
 
$
3,263
 
$
(386)
 
Denominator
 
 
 
 
 
 
 
 
 
 
 
 
 
Denominator for basic earnings per share Weighted-average shares which reflect 356,441 shares in the treasury as a result of the stock repurchase program that ended in 2011
 
 
7,145,418
 
 
5,358,509
 
 
7,104,471
 
 
5,357,870
 
Weighted average common equivalent shares resulting from the warrant issued June 28, 2013 to the subordinated debt lender LKL Investments LLC
 
 
—
 
 
566,015
 
 
—
 
 
566,015
 
Total weighted average, including common equivalent shares
 
 
7,145,418
 
 
5,924,524
 
 
7,104,471
 
 
5,923,885
 
Effect of dilutive securities from restricted stock plan and from dilutive effect of stock options
 
 
21,705
 
 
—
 
 
86,998
 
 
—
 
Denominator for diluted earnings per share (adjusted weighted average shares)
 
 
7,167,123
 
 
5,924,524
 
 
7,191,469
 
 
5,923,885
 
Basic earnings (loss) per share from continuing operations
 
$
0.50
 
$
0.09
 
$
0.81
 
$
0.15
 
Basic earnings (loss) per share from discontinued operations
 
$
(0.22)
 
$
(0.16)
 
$
(0.35)
 
$
(0.22)
 
Basic earnings (loss) per share
 
$
0.28
 
$
(0.07)
 
$
0.46
 
$
(0.07)
 
Diluted earnings per share from continuing operations
 
$
0.50
 
$
0.09
 
$
0.79
 
$
0.15
 
Diluted earnings (loss) per share from discontinued operations
 
$
(0.22)
 
$
(0.16)
 
$
(0.34)
 
$
(0.22)
 
Diluted earnings (loss) per share
 
$
0.28
 
$
(0.07)
 
$
0.45
 
$
(0.07)